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Brent

Oil move pending China's directionBrent Crude Oil price is expected to consolidate between 93 to 100, with the main catalyst being China's Covid Policy. There were on-and-off hopes of China's reopening. However, we are still very much on the fence given the continued strict Covid measures in China. On the other hand, China did announce an easing of the measures, reducing the quarantine time. Another positive news is that the NHC is planning to accelerate vaccinations, which is crucial before further easing on their zero COVID policy. We don't know how long that will take, or when it will be in effect. Buys on support above 93 and sells on resistance at 100, until we have a clear path on China's reopening. Overall, looking more for buys given the pretty much firm demand in oil. Keep an eye out for OPEC oil report on Monday, 14 Nov 2022.
OANDA:BCOUSDLong
by geneAnalytics
Brent: Watch it burnWe're currently observing a downwards trend that should turn once the blue wave is completed. Thereupon, Brent should move above the $105.42 resistance into the turquoise target zone between $104.29 - $116.05. After hitting the target zone, Brent should turn and drop below the support at $83.61 directly into the green target zone between $77.10 - $42.16. After crossing the green zone, the green wave should be completed and turn out of the green zone to move above the $83.61 support. Since the anticipated downslope is surely not going to evolve as a straight line, we'll sketch the in-between-movements as the course comes down from the top.
TVC:UKOIL
by MarketIntel
Brent could trade higher only if...Energy prices climbed on Friday as Brent reached the 92.60 price level and WTI climbed a high of 98.75. This move higher was due to the weakness of the DXY and the anticipation that China was ready to reopen borders, spurring demand for oil. However, as China reiterates its intention to maintain its current Covid policy, both Brent and WTI are retracing lower from last week’s climb higher. Look for the completion of the retracement before a continuation of the uptrend. The prices could test the key resistance level of 97.00 for WTI and 102.00 for Brent, if prices clear above the immediate resistance of 94.00 and 100 respectively.
TVC:USOILLong
by JinDao_Tai
Long WTI & Short Brent as price differential tightens?Oil Brent continues to trade at a premium of more than $8 per barrel to WTI oil , with the price difference between the two oil benchmarks increasing significantly and well above its historical average this year. One of the primary drivers of the widening Brent/WTI price spread has been a significant increase in the availability of North American crude, which has created more downward price pressure on the WTI market. The US government has injected180 million barrels of crude into the market through scheduled Strategic Petroleum Reserve (SPR) releases as of October 18, 2022, to help resolve the market supply disruption created by Russia's full-scale invasion of Ukraine and to help cut energy costs. U.S. SPR releases are now complete, and crude oil reserves in the United States are at their lowest point since 1983, according to the latest estimates from EIA. The possibility that the Democrats would suffer a loss in the midterm elections in two weeks might rule out the possibility of more SPR releases being made at a later stage. In this scenario, the forces that pushed the price of WTI below that of Brent would diminish significantly. As a result, the price spread between the two oil benchmarks may return to tighter levels. Going long on WTI and short on Brent is one way to reflect the idea of closing this oil price gap. Throughout 2021, the difference between WTI and Brent was on average about -$2/bbl and ranged from -$4.5/bbl to parity levels. A mean reversion to the period prior to US SPR releases would suggest an increase from current prices of about $6.5/bbl. If, on the other side, the spread widens again and breaks through the -$10/bbl threshold, the strategy will be proven incorrect.
NYMEX:CL1!
by Capitalcom
10
XAUUSD : IMPORTANT TA , READ the CaptionGOLD UPDATE : Still on the gold chart, I specified my opinion is still Bearish and its possible targets marked on the chart! Please note that today, as it is the first day of week, the market does not follow a particular trend, but the important levels mentioned in the current and previous analysis are valid! Previous Analysis : By examining gold in the 4-hour time frame, you can see that the price finally managed to hit all its important upward targets (Final Result is +520 Pips ✅) , and by collecting liquidity above $1668, it faced heavy selling pressure and corrected to $1644! According to the price trend, I expect further correction, and according to the analysis of the previous week, the price may soon move towards the liquidity pool of SELL STOPS below the price of $1615, if this happens after collecting liquidity below this level. We will probably face a temporary price pump, the range of this liquidity pool is from $1615 to $1606! The new Bullish Order Block is in the range of $1617.5 to $1627.5! Follow me for more analysis & Feel free to ask any questions you have, I'm here to help. ⚠️ This Analysis will be updated ... 👤 Arman Shaban : @ArmanShabanTrading 📅 10.24.2022 ⚠️(DYOR) ❤️ If you apperciate my work , Please like and comment , It Keeps me motivated to do better ❤️
OANDA:XAUUSDShort
by ArmanShabanTrading
47
IMPORTANT TA of $GOLD : READ THE CAPTIONWell, as you can see, today the price penetrated more to its Bullish Order Block and managed to grow by 230 pips from $1617 to $1640! If the price continues to grow, the important ranges for supply are $1645 and $1656 respectively! Another important possibility is that the price may soon (maybe next week) move towards the liquidity pool of SELL STOPS below the price of $1615, If this happens, after collecting liquidity below this level, we will probably face a temporary price pump, the range of this liquidity pool is from $1615 to $1606! ✅ Result so far : +260 Pips ✅ Follow me for more analysis & Feel free to ask any questions you have, I'm here to help. ⚠️ This Analysis will be updated ... 👤 Arman Shaban : @ArmanShabanTrading 📅 10.21.2022 ⚠️(DYOR) ❤️ If you apperciate my work , Please like and comment , It Keeps me motivated to do better ❤️
OANDA:XAUUSD
by ArmanShabanTrading
50
XAUUSD (GOLD) Multi Time Frame analysisWell, as you can see, the price managed to increase up to about $1680 yesterday, exactly from the range of $1660 that was mentioned, that is, nearly 200 pips of growth! Again, from the same range of $1680, the price faced selling pressure and fell again to $1660! The price again reacted positively to this level and is currently trading with 50 pips of growth in the range of 1665! Now we have to see if this level of support and demand zone can cause the price to grow again or not! one of the important supply zones is in the range of $1676 to $1680! Follow me for more analysis & Feel free to ask any questions you have, I'm here to help. ⚠️ This Analysis will be updated ... 👤 Arman Shaban : @ArmanShabanTrading 📅 09.20.2022 ⚠️(DYOR) ❤️ If you apperciate my work , Please like and comment , It Keeps me motivated to do better ❤️
OANDA:XAUUSDLong
by ArmanShabanTrading
76